Market Murmurs | October rain adds further confusion to cattle prices

October rain adds further confusion to cattle prices


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During the September quarter, the Eastern Young Cattle Indicator averaged 486 cents a kilogram (carcase weight), down 73c/kg, or 13 per cent, year-on-year.

During the September quarter, the Eastern Young Cattle Indicator averaged 486 cents a kilogram (carcase weight), down 73c/kg, or 13 per cent, year-on-year.

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October storm rain across NSW certainly helped spark up the young cattle market which even this week was still firm to dearer.

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THE October storm rain across NSW certainly helped spark up the young cattle market which even this week was still firm to dearer. This was on the back of much larger yardings at NSW selling centres early in the week. 

Meat and Livestock Australia have reported the Eastern Young Cattle Indicator (EYCI) has risen to a six-month high and on Tuesday night was on 537 cents a kilogram (carcase weight). 

In its October Australian Cattle Industry Projections Update MLA said producers would no doubt be looking for opportunities to rebuild, meaning follow-up rain would likely see prices continue on the current upward trajectory.

“A lack of rain, however, would see drought conditions intensify, inducing further destocking and placing downward pressure on prices,” the report said.

At Wagga Wagga prime sale on Monday there were plenty of orders for store cattle from northern NSW indicating some graziers are restocking.

Meanwhile, at Carcoar, Inverell, and Gunnedah on Tuesday the supply of cattle was up dramatically as the better prices and a return to hot, dry weather pushed more cattle onto the market.

MLA estimate the 2018 national cattle herd at 27.4 million head, while the female slaughter rate has risen to levels not recorded since the 2015 drought. 

It’s going to be an interesting ride for cattle prices as we head into 2019 regardless of whether follow-up rain is received.

NSW young auctioneers training

AUSTRALIAN Livestock and Property Agents will hold the NSW Young Auctioneers Competition selection school at the Inglis Complex at Warwick Farm on December 5 and 6. 

To be selected to compete in the NSW Young Auctioneers Competition at the Sydney Royal Show next year, agents must fill out the nomination form and attend the selection school.

Auctioneers must also provide a copy of their agents licence or certificate.

  • For nomination and registration forms contact ALPA, 02 9262 6633.

Pretty in pink for fundraiser

Agents and stockmen swapped their normal work gear for something a bit different at last week’s Mudgee prime cattle sale.

In particular, the McDonald Lawson team took up the "Pink UP Mudgee" theme and wore pink.

Bill Lawson and Peter Mitchell wore pink boots, while members of their team wore pink hats with one sporting a pink wig.

The stockmen painted their horses' hooves pink.

The company also sold pink caps and 10 lambs with the day's tally grossing $4600 for the McGrath Foundation.

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